banner_ad

What is the tax audit turnover limit

This query is : Resolved 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
15 June 2018 Dears
what is the tax audit turnover limit for partnership firms for the F.Y 2017-2018 and
turnover means it is INCLUSIVE of TAXES or EXCLUSIVE of TAXES.Please clarify.
thanks in advance
suri
Profile Image

RAJA P M

Profile Image

RAJA P M (Expert)
15 June 2018 Tax audit limit u/s 44AB Rs. 1 crore...
In case the assessee opt u/s 44AD (eligible business) then they can avail upto Rs. 2 cr. Above Rs. 2Cr Tax Audit is mandatory to all cases...

In 44AD :
If the firm is declare his profit 8% and above then no need Tax audit as per above T/O value. In case they will declare less than 8% then Tax Audit applicable...
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
18 June 2018 thank you sir but 1 cr TURNOVER MEANS IS IT INCLUSIVE OF TAX OR EXCLUSIVE OF TAX ?
please clarify.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
26 May 2026
CA / MBA (Finance) / CMA / M.Com (Finance)

Sri Aurobindo Gnostic Centre of Education

New Delhi

CA

View Details
Company
29 May 2026
Finance Head

Bhawar Sales Corporation

Chennai

Graduate (Any)

View Details
Company
23 May 2026
Article Assistant

Geeta Manchanda & CO.

New Delhi

CA Inter

View Details
Company
27 May 2026
Audit Assitant

Virender K Gupta and Co

New Delhi

B.Com

View Details
Company
29 May 2026
Accounts assistant

Shubh Consultancy

Mumbai

Graduate (Any)

View Details
Company
18 May 2026
MIS Executive

Primarc Pecan Retail Limited

Mumbai

B.Com

View Details
Company
16 May 2026
Account & Audit Asst

RAHUL KHANDEBHARAD & ASSOCIATES

Nashik

B.Com

View Details
Company
11 May 2026
Post office

Post office

Anakapalle

Others

View Details